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04-24-1997
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04-24-1997
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Last modified
8/23/2022 12:42:26 PM
Creation date
8/1/2018 6:56:35 AM
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MV EDC
EDC Document Type
Packets
Date
4/24/1997
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3-27-1997 3:22PM FROM MSP REAL ESTATE, INC. 612 336 4565 P. 8 <br /> •SSLJMPTIONS <br /> DATE 25-Mar-97 <br /> PROJECT NAME MOUNDSVIEW/NEW CONSTR.&REHAB <br /> NUMBER OF UNITS 68 <br /> DATE PLACED IN SERVICE 01-Jul-98 <br /> OCCUPANCY 95.00% <br /> TAXES/U NIT $687 <br /> OPERATING EXPENSE/UNIT $2,574 <br /> ANNUAL RESERVE/UNIT $250 <br /> 1. USES <br /> LAND AND BUILDING $1,415,000 <br /> HARD COSTS $2,905,000 <br /> SOFT COSTS $1,177,832 <br /> RESERVES $95,000 <br /> /DOTAL $5,592,832 <br /> 2. SOURCES <br /> FIRST MORTGAGE $1,900,000 <br /> EQUITY (INVESTOR/DEVELOPER) $1,887,832 <br /> HOLMAN EQUITY $905,000 <br /> RAMSEY COUNTY (HOME) $400,000 <br /> FEDERAL HOME LOAN BANK (GRANT) $270,000 <br /> CITY OF MOUNDS VIEW (TIF) $230,000 <br /> TOTAL $5,592,832 <br /> • <br />
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